1inch Targets More DeFi Protocols with Avalanche and Gnosis Integration

1inch Targets More DeFi Protocols

Decentralized exchange aggregator 1inch has added Avalanche and Gnosis to its supported networks in an attempt to tap into more DeFi protocols.

The DEX aggregator’s co-founder, Sergej Kunz, notes that the move would give users fast and more affordable transactions.  

1inch would add more protocols based on Avalanche, currently having $10.48 billion in total value locked, like Aave, Sushi, Canary Exchange, WAVAX, and Canary Exchange.

Networks like Curve, Sushi, Elk Finance, Symmetric would also be integrated from Gnosis, which has $206.6 million TVL at the moment.

1inch was unveiled in August 2020 and has become a top decentralized exchange aggregator on daily volumes.

The protocol offers users an ideal rate for swapping DeFi tokens by integrating decentralized exchanges into a single blockchain.

1inch had around $357.7 million daily trading volume in the past day ahead of rivals like CowSwap, ParaSwap, DODO, and Tokenlon.

The DEX aggregator initially launched on Ethereum before rolling out on other EVM compatible networks like Polygon, Binance Smart Chain, Arbitrum, and Optimism.

Source: Cryptobriefing

Leave a Reply

Your email address will not be published.

Related Posts